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tv   Your World With Neil Cavuto  FOX News  August 13, 2012 1:00pm-2:00pm PDT

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we will wait for confirmation as fox news cannot independently confirm that. another shooting. this time it is just a&m. i am shepherd smith. a complete report on the fox report. now "your world." 31 years to the day after ronnie, talk about republicans, and it has come back in a guy named ryan. welcome, everybody. it is very good to be back. it is a good time to go back in time. 31 years to the day we all witnessed this. >> mark an end to the excessive growth and government beurocracy and government spending, government taxing. >> the biggest tax cut in american history. well maybe it was just us, but didn't that all come back again just today when we heard this? >> we need to make sure we get rid of the loopholes, get rid
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of the deductions and lower everybody's tax rates so people can survive and not keep taxing small businesses. >> it is deja vu all over again. he is the guy some are calling this generation's hipper gipper. what do you think? >> it is true. it is amazing that paul was just 11 years old when that tax bill was signed. >> that's right, that's right. >> it was 31 years ago. but he is the reincarnation. , he really is. he is as good as it gets. it tells you the direction romney wants our country to go and it makes it starkly clear what will happen if they win, and it is a vision that i have for the world. i share a vision, and i love it. >> it is interesting he is a disciple of the late jack kemp of of course and senator roth signed the tax cuts with the inspiration you were coming up
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with. and whether now is the time for, this democrats say now is not the time for this. this message is out of date. it is out of sync. what do you think? >> i don't think the message is out of date. whether it is the time that's up for the voters to decide. people deserve the governments they get. if they want another four years of obama, god bless them. frankly i don't want another four years, but we'll see what the voters choose. >> the tax cut part of this, by picking ryan the argument could be made and i know you made that he is serious, that is mitt romney, about addressing big government and about getting more money into the hands of the people. the argument against doing that right now is he is in a bit more of a box than ronald reagan was then given these exploding deficits. if ronald reagan were to come back 31 years ago today the options wouldn't be as much on
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the table. what do you say? >> there is a difference to the economy today than there was back then, neil smed -- neil. tax rates were higher than when we came into office on january 20th, 1981. that's very true. >> what was the top rate back then? >> the top rate back then was 70%. that was the unearned income tax rate. now, the earned income tax rate was 50%. steiger hanson passed in 1978 which had the capital gains tax rate dropped from 42% to 28%. but that's where we were then. we did not have the deficit problems that they have today. we didn't have the spending problem they have today. today if you really think about it, neil, government spending is taxation. it really, really is. that's the total tax bill. we address the composition of taxes very much to get economic growth, but today you have to address the total volume of taxes which is government spending.
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were reagan back here today he would say he understood government spending was a problem. he said so in that clip you just had, but we would be focusing a lot more on cutting government spending down and bringing total taxes down. >> we shall see. always a pleasure. thank you. >> where were you on vacation, by the way? >> if i told you, i would have to kill you. >> okay. you weren't back in italy? no. jay totally unnecessary. >> "jersey shore"? >> >> you are assuring this is your last visit. thank you, sir. in the meantime democrats are wasting no time attacking the romney-ryan ticket. >> this is a prescription for economic catastrophe, and what is surprising to me is having been part of the first catastrophe that congressman ryan thinks we should double down on that policy and do it all over again. >> it says something about mitt romney. they chose somebody who has a budget. it would be the end of medicare as we know it. >> mitt romney has fully
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embraced by choosing paul ryan as his running mate is to shred the safety net. do you like medicare? it is no longer a referendum on obama. that's everything they wanted. >> this plan will be poisoned politically in this election. >> to radio talk show host who says boy oh boy just bring it on. what do you make of this pretty much unanimous democratic rebuke? >> is that your form of water boarding, by the way, that i have to listen to those people? >> it is amazing. you would think the guy was lucifer. >> this election is about saving the country. i will tell you something. medicare's trustees appointed by obama said six months ago medicare is broke in 12 years. so in 11 and a half years there is nothing left. what does obama do about it? nothing. obama's policy is to let medicare go broke in 11 and a half years. it is actually worse, neil. that does not include -- because i went back and read the report, the $700 billion
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he stole from medicare to spread the wealth under obama care. seniors need to understand they have paid into medicare and they went there and took out several hundred billion in the biggest raid in american history and to take that money and fund obama care and spread the wealth to people who haven't paid into anything. that's number one. so 11 and a half years and number two, what does ryan say? he says, look, i am reading the trusty reports. we have to deal with medicare. here is my proposal. everybody five 5 and older, you are uneffected. you don't need to listen to this debate anymore. the truth is it takes a year or two for these things to kick in. it is anybody 54 or 53 older. what are we going to do about people in their 20s and 30s and 40s and early 50s? ask obama. he has no answer. if he can get a question in -- he hasn't answered any questions in several weeks. what does ryan say? ryan says he has a plan. and by the way the plan involves the government to my
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chagrin. it is still expensive to my chagrin. it is still subsidized policies to my chagrin, but it saves hundreds of billions of dollars over several generations. >> we should have put our encyclopedia on this. the fact of the matter is what the ryan plan is he offers vouchers for the elderly or those approaching the age-group to get their own insurance and theirs is the -- there is the obligation of the government. it will obviously save a lot of money in the long-term, but it will compromise our health care democrats say in the short, meed meed -- medium and longer to boot. >> i say taking several hundred billion out of medicare to pay for this goldberg obama care is a complete disaster that will compromi health care. >> do you think -- and we can see through some of the fallacies, but reading what the administrators of medicare have written and reported and feared that this is not worth the paper it is printed on.
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nevertheless the granny pushing off the cliff thing and everything else, it is going to scare voters in florida. it is going to scare voters who might feel this guy is frankenstein. >> i am tired of obama and particularly this axelrod who gets on tv and he is mr. power mr. power -- mr. sour pus and going on and on and on. the american people are living this nightmare. obama can put millions of dollars of ads on and his union buddies can do the same thing. they know what is going on in unemployment and losing their policies they know they are losing their homes. they know this guy is endebting their kids to god knows what. he not only takes 700 billion out of medicare to spread the wealth, the elderly are getting it in the neck, and their children and grandchildren are because of the massive debt this president has created. the fact of the matter is they
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can do their one-liners and the rest. i think the american people are smart enough, at least enough of them are to say no to this. >> listening to you regularly, i know you have had your doubts and not only through the primary season, but there are questions about mitt romney throughout. at the edges anybody would be a better alternative to the president. obviously this pick in political terms was meant to persuade passionate conservatives like you to rally around the nominee. your comments notwithstanding. do you think it has and it will? >> yes, i rallied behind romney. >> yes, but do you say you would vote for an orange can -- >> i want as many human beings to do exactly that. but with that said, paul ryan is a class act. i have said rubio and ryan were the class of the field, and they are and he chose ryan and i am thrilled. ryan has been on my show many, many times. he has talked about medicare. this guy is fluent. he is fluent in the ways of
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conservatism, constitutionalism, free market economics. he knows this budget better than obama ever could. and i suggest the romney campaign propose 10 debates between ryan and biden, and let's see how that goes. >> wow. well tonight i will call maurice and see what you think. in the meantime, mark, thanks very much, mark levin. we want to keep you updated on this other development going on through the latter part of the two hours now, the deadly shooting just outside of texas a&m university. one police officer is known dead and another civilian was killed and the suspect has died being taken into custody. the police are identifying the slain officer as constable brian bachman. he was carrying out an eviction order at the time. two other officers and two civilians were injured. texas governor rick perry were were -- was reacting.
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>> we don't know the details of what went on in college station, texas. we know there were a couple of officers that were down the individual is in custody now. when it gets back to this issue of taking guns away from law abiding citizens and somehow know this will make our country safer, i don't agree with that. i think most people in texas don't agree with that, and that is a state by state issue frankly that should be decided in the states and not again a rush to washington, d.c. to centralize the decision making, and them to decide what is in the best interest for the citizens and the people of florida and texas. texans, i suggest to you by and large a majority of them, a large majority of them believe that law abiding men and women should be able to have their weapons and criminals are never going to listen to the laws. they are always going to have weapons of whatever source they want, whether legal or illegal. i think it is wise for the people of the state of texas
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to be able to defend themselves when there is a law breaker that comes into their midst with a weapon. >> you may wonder who that guy was, florida governor rick scott. they will explain what they are up to after this.
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talking about a bailout bomber. they are boosting its own forecast on expected losses from the auto bailout by more than 3 billion to almost 25.1 billion. that's up from 21.7 billion in the last quarterly update on this. the government is still on the hook for around 30% of general motors stock. shear where it gets sticky. gm shares are trading around $20 a share. the stock would need to get to 53 for taxpayers to break even. and that looks for the moment to be an uphill climb. >> first that's our priority of the -- as the usa. it is a super pack ad --
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>> dowdy. they are democrats? >> i have no idea the political affiliation of folks who are associated with that. >> he used to work in the white house and worked for the owe bay you ma campaign in 2008? >> that is a super packment. >> so they suggested governor romney is responsible for a dip. and she says she has nothing to do with it. yet governor romney had everything to do with rush limbaugh saying this. >> he called her a slut, a slut. i'm sorry. i know he apologized, but forgive me if i doubt his sincerity saying he lost six advertisers. the bottom line is the leading candidate on the republican side for president couldn't even bring himself to call rush limbaugh's comments out outrageous. >> are you talking about mitt romney? >> yes, mitt romney. >> he says, pot, meet kettle. >> you know what i realize,
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and it is a problem with our politics, being a party chairman is not a license to lie. that's what they have turned it into. i can get up and say whatever outrageous lie i want. she has embarrassed herself over and over since she has been chairperson. the limbaugh thing she was probably right. it was all right to call romney on that. he should have probably said something. tell me you don't know who is doing the pack when burton is the man who was doing it was in the white house, somebody you dealt with all the time? you are using the same footage and the same thing. >> she said she of courses she knows the authenticity and several things, but in other words -- what i am saying is if you are going to go after rush, you will go after the groups and say there are clear ties to republicans and then what is good for the goose is good for the gander. >> this is a strategy. what we have done is taken the sewer -- there is no bottom on this sewer in this campaign. that's one thing about the
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ryan of choice. while i think it is politically problematic cal i have to say it is suddenly elevated above what the democratic strategy -- the chicago gaping sister strategy of let's -- gangster strategy of let's tear this person down. >> you think it could be -- >> well, this is -- want a referendum on medicare. what you want a referendum on is the country in trouble, but will they let it get that far? >> right now romney for the first time in this campaign has been a punching bag for three months. he has been on the defense constantly. this is the first chance they have for the in extwo weeks. they have a chance through the republican convention to make this definition. this will either make this choice worth while because ryan is an impressive intellect. i think he is politically tone deaf. you don't want a campaign over
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medicare. republicans don't want to have fights overren entitle ments. >> aren't they part of the going broke issue? >> yes, but it has to not just be the democrats. democrats are looking at this saying this is brilliant. the candidate that was rich picked the candidate that wants to privatize medicare. what couldn't be more wonderful about this? the republicans -- romney can't allow that. they have to take it to big grounds. the economy is going under. the country is going under. we all know we are in trouble. you think in another four years this guy will work? no. here is where our ideas are. the problem for romney is he has not laid out an economic plan that is understandable. you may, but i don't. it should be about growth and that's how we have to tackle these deficits. i am not satisfied. that's the urgency he now has opportunity to do. if they don't, this could be a disasterous choice. if they let this fall into being medicare because
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republicans -- you know, republicans -- people go, oh my god republicans want to destroy medicare and social security like democrats want to tax and spend. it is in the dna of voters. you have to do that. we shall see. >> good to see you. >> good to see you. the poll was scaring off seniors in the sunshine state. the republican governor of the state didn't look too worried. the florida governor rick scott along with the texas governor rick perry. what are they doing together?
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america is on the job hunt and it is two of the most business friendly states and they are duking it out for the top spot. earlier texas governor rick perry was asked if he was worried that rick scott may be nipping at his heels. >> i am not worried about it, but it is one of the things i am proud of that the governors have put tax in regulatory and legal policies into place. he is one that put the pressure on. he is over on the western side of new mexico. and so i am surrounded by people who get it about economic development, but it just makes us work that much harder. we passed loser pay this past session of the legislature. we are not just sitting over there with our feet propped up
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in texas. we are working hard to be more competitive. >> are you -- >> you both don't have an income tax. >> are you worried? how much are you worried? we cut property taxes $2 million. we cut 1700 regulations. are you worried yet? >> i wouldn't say i am worried, but i pay attention. i think that's what all governors do, or they should be doing. >> governor perry, do you pay attention to the fact that for some reason you haven't been invited to speak at the convention, but that guy next to you has. i wonder why? >> it is his good looks probably why. >> neil, i just want to make sure, we have a trophy for this tournament, and i wanted to give it to governor perry. he has won at a lot of things in life. and we don't count the fact he had the biggest fish, but he has caught a number of species, and it is a number of things that i have been able
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to beat him in. >> i really appreciate that. when you can put us at number two for job creation, i expect a really big trophy. >> that would be a good one. >> maybe the trophy -- again, governor perry, maybe the trophy will make up for the fact that you are not being invited to speak at the convention, and he is. that doesn't bother you? >> it is a great honor for me to lead the texas delegation. i don't get hung up over the fact that i will be speaking or not. i know what governor romney wants me to do is go across the country and talk about economic policies what he and paul ryan are going to do for this country. that's what really matters. i don't get hung up on who is going to be speaking and what slot or what time. >> we are all talking about what texas has done. texas has been number one in job creation. all of us are doing what texas has done. making it better for business people. business people create jobs, lower taxes, less regulation and less regulation.
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>> you would want to showcase that at the convention. the guy next to you should be showcased. he is not being showcased. >> i have to talk about him a little bit. >> will you? >> i will talk about what texas is doing and florida is doing and what bobbie gindle is doing. we are competing in the global market. we have to make sure our state and this country will be about jobs. governor romney, congressman ryan, they are the right team to make sure that the federal government does what we are doing in our state. give us our power back. let us know how to fix the state. we don't want to centralize the government. we will figure it out. >> governor scott to that point, you mentioned paul ryan, many argue he is not liking the prescription plan. you have heard all of the rap
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against him. did this pick hurt the gop's chances of carrying your state this november? >> let's remember. this is governor romney's plan. we will work with governor romney. he has a plan to make sure the seniors are taken care of. we have 3.3 million recipients in our state. i will work tirelessly and governor perry will in texas to make sure our recipients continue to get care. that's the key. we have to make sure they continue to get care. we will balance the budge expet do all of the right things. >> governor scott, do you support what paul ryan wants to do? on this issue particularly in florida, are you open to the switching to the private voucher system paul ryan wants from medicare recipients down the road? >> let's remember, it is going to be governor romney's plan. >> i know that. >> i am going to support a plan to make sure our medicare recipients, we have 3.3
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million in florida, and they paid into the system, and we have to make sure we keep that system going. >> i think that is the real issue here. people are on social security and they will be there. the democrats will try to scare people and they will tear it away, and no we are not. >> what do you think it would need? >> what we will do is in the out years people like my children who are 29 and 26 years old, they know that if we leave the system in place that is there today they will not be -- it is not going to be there for them. the idea we need to sit back and can't touch any of these and we shouldn't talk about them, and shouldn't project into the future how to save programs for our children and our grandchildren, it is just nonsense. the idea that we ought not be having that conversation is not correct. we should and i think the american people will not buy into the scare tactics that obama administration and his
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slacks will be out -- >> you did mention governor perry that 26 and 29-year-olds should sort of -- given an opportunity to have something down the road. for them, would that be the cutoff age then. if you were that young, you should be veering toward a different type of the system. paul ryan has his much older than that in the 40s right now. >> we are going to have the conversation and the idea that we will draw up a piece of legislation in august of 2012 not correct. we are not going to do that. let's have the conversation though and start a dialogue between the people of this country. one of the things that governor scott said that is so important, who do you want making the decisions for you? do you want a centralized washington, d.c. federal government making those decisions? or should you push those back into the states and allow people who are closer to the people to make those decisions on a host of issues.
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whether it is education and whether it is transportation and infrastructure and whether it is health care. we have obama and his administration that think all of those decisions need to be made in washington, d.c. we disagree with that and i think most americans do too. >> governor scott, your state -- >> i think the election will be about jobs. >> i think you are right. in the end, gentlemen and particularly in your state, you have seen as much as governor perry has seen in his state. do you think the president benefits? in your state, the president leads in statewide polls. it may be -- maybe some republicans say because of what you have done as governor and the president will benefit from that in november. what do you think of that? >> there is only going to be one poll that matters and that's the election in november. governor romney will get his plan out. it will be a plan to get our state back to work. i gotti elected on a similar -- got elected on a similar campaign. our state elected me to get our state back to, would of the guess what. it worked.
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the biggest drop in unemployment in 18 months. 14% that were on unemployment are off unemployment. that's what people will vote for, and that's why governor romney will become the next president of the united states. >> we shall see. in the meantime, do you think all democrats have harsh words for paul ryan? wait until you hear what the top of the depp commission has to say. debt commission has to say. you may be surprised.
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have you met paul ryan? it is amazing. i thought i was good with arithmetic. he can run circles around me. he is honest and straight forward and sincere. the budget he came forward with is just like paul ryan. it is a sensible, straight forward, honest, serious budget. >> that was from september of 2011. that is the co chair of this president's debt commission. he is a former chief of staff for bill clinton who had good things to say as the man who would emerge as the vice presidential candidate for the republican ticket in 2012. we have paul ryan's rival now dan holland. there is not a unanimous point of anti-ryan views among your colleagues. what do you make of that and what he was saying about ryan? >> well, neil, as you may know i get along very well permanently with paul -- personally on paul ryan.
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on the budget committee we disagree on key issues, but we always do it in a civil manner. there is no doubt that paul ryan understands his math. and i think everybody understands that if you are going to provide a huge additional tax break to folks at the very top and say at the same time you are interested in reducing the deficit, it means you will hit everyone and everyone else a lot harder. >> does that mean, congressman, that you ignore the run away costs associated for example with medicare? not that you cut it, but he wa of it and looking for alternatives to address the grenade that you and others acknowledged are out there if we don't fix this thing. he has harangued in all but pushing granny off the cliff. is that fair and is it right and does it do a disservice on paul ryan when many in your party have that view? >> it is the way the ryan plan and now the romney-ryan plan
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would deal with medicare. there is no doubt that we need to modernize the medicare system. we began to do that in the affordable care act. the issue is whether you do it by trying to reduce the overall health care costs by changing some of the misaligned incentives in the program. right now there is an incentive to provide a greater quantity of square as opposed to -- care as opposed to value of care. what is different about the ryan and romney approach is they would shift the ever rising health care costs on to senior citizens. we don't think that's the right way to go. we think it is totally unbalanced when you do that at the same time that you are providing huge tax breaks. >> but when you look at this, congressman, i know you and i have chatted about this before, but clearly the system cannot go on as it is going. and he is not addressing present medicare recipients. he is looking at those much younger today. it is 55 and under today.
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by the time this was enacted it would be 53 and under today. more or less saying in order to make sure there is a benefit for you, here are the adjustments we can make now. and yet it is being treated as if he were say tan with a spread sheet. i don't know if that's right. >> i don't think that's accurate, neil. >> have you heard what harry reid has said about it? >> let me make two points. first the ryan and romney plan will have an immediate impact on many seniors on medicare in two ways. one, it will immediately increase cost for people with hyper description drug use. they reopen immediately the prescription drug donut hole. it was closed as part of the affordable care act. second when it comes to preventative health care for seniors, it will be immediately more costly. in the longer term, what i reject and object to with the ryan approach and the romney approach is they will give seniors a much worse deal than
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they give to members of congress. >> what about younger people or those who are not seniors now? we quibble about if it would be what you said. what i am saying is what about all of the other people who are coming up and growing older? the 10,000 who are joining the system per day in this country? what about assurances for them that it will be there? you know, congressman, and you know these numbers better than anyone that the rate we are going it is not sustainable. we can quibble with the ryan approach and quibble with the romney approach, but there is no denying the fact that as we are going we have to make some adjustments. some democrats are not doing it. >> two things. first of all i am doing more than quibbling with the approach. but there is no doubt that we need to make some changes. people need to recognize that the affordable care act extended the life of medicare by over seven years. we are talking about part a of medicare. that's according to the medicare actuary. we need to build on that.
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the way we would build on that is to change some of the incentives. right now there is an incentive -- there is no incentive for hospitals, for example, to prevent a patient from being readmitted multiple times based on the same condition. the hospital gets paid every time. we need to move to a payment system that encourages the coordination of care. that's the way to save money and not by off loading rising health care costs on to seniors whose median income is $23,000. >> congressman, always good having you agree or disagree. good to see you again. >> good to see you, thanks. you want to bring the debt down? bottoms up.
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america's sugar daddies are looking far from sweet. japan and now china, two of the largest holders of all of our u.s. debt appear to be in the midst of economic slow downs themselves, and many are concerned that the more they are hurting, the less of our
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debt they will be buying. two students from george washington university have seen and heard enough. they formed a super pack dedicated to a bipartisan deficit reduction solution. but just how the two frat boys expect to make this work? one word, beer. they say it is either bottoms up or we are never going to bottom out. guys, good to have you with us. daniel, explain how this works. what do you do? >> well, it is very simple. like you said, we are tired of seeing our government with this out of control debt. it is not being addressed by our politicians and by our leaders in washington, d.c. so we decided to form our own super pack. the mission of our super pack is finding a bipartisan means of accomplishing just what we were saying, government debt reduction. and the way we want to do that is by getting politicians from both sides of the aisle to put aside their differences, drop
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the act and playing to their parties is and playing to the media. just meet with a few round of beers and get talking with our ideas. our basic thing is that we believe if you can have a beer with someone you know, you establish that respect. you establish that recognition and familiarization with each other. you will be more open to their ideas. we think that's the way a friendlier government will be a better government. >> you might be right. but looking at a lot of these budgets, and we haven't had one in three years, but the ones that are concocted look like they are put together by someone out of their minds drunk. i am not sure if that's the strategy, but why do you think it would work? they get together and have a beer together? >> well, i think everyone has opinions. those opinions will obviously be different. we have gotten to the point where people are not fighting for things because they believe them. they are fighting because it aligns with their party. and that's gotten out of
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control, and that is what has hurt us so much right now. >> do you think this is the atmosphere? in other words there are such things as angry drunks. i am wonder if that's the case they might harden their positions, right? >> i would hope not. we elected these men to be representatives for the united states of america and not for their political party. you are right that it may be the case with a few congressmen, but i believe winslow and i have more faith in our politicians than that. we are asking them to meet at the table. meet person to person instead of politician to politician. that's the whole gist of it. >> guys, i like what you are picking up. winslow, i remember -- you are way too young, but tipper o'neil, the former speaker of the house and ronald reagan would meet and crunch numbers and go over things and have a good laugh and make some compromises. life went on and we had great
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compromises and an economic boom. >> i think we are trying to change it. there is a mental shift we are trying to bring forward back to those days that you can battle it out on the house floor and then koll together with your uh pone -- and then come together with your opponents. that's a shift that has occurred in the past few decades, and we are trying to reverse that mental shift. >> if you are a pact and you are recognized as being a pack how did you manage that? over a beer? >> it is funny, actually. i decided late may or early june i decided just to file with the sec to see how easy it was. turns out it is not that hard. the rest of the work actually was the hard part. within a few weeks winslow and i actually did sit over a beer and decided what as college students is rnt poo for us to invest our -- is important enough for us to invest our time and what will be the mission of our super pac.
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we thought it would be deficit reduction. >> good idea. wish you well. >> thank you for having us. from the pump to the pink slip, new signs the economy could be losing its grip.
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gas prices keep on spiking. that's the average now for $3.70 a gallon. that's up 30 cents in the last month. google slashed 4,000 motorola workers. you can see this dial the one with the 13,000 handle on it that barely budged today? try 3,000 something and they say it is sooner than you think. why so glum? >> we see the baby boom
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generation has peaked in spending around the world. they are declining. you have the greatest debt bubble in history and they are fighting an epic battle to stop an inevitable slow down in debt de leveraging. what i am worried about is europe. europe is about to blowup. they had 1.3 trillion massive stimulus program a few months ago and already in trouble again. another 1.6 trillion of what we call under the table loans, short-term loans that german banks and the central banks and the ecb that aren't being paid. that's why there was such a bold statement. europe blows up first. global exports are slowing including china, japan, korea, u.s. faster than expected. qe2 is wearing off in the u.s. as we expected. we have this weird period in the next few months where we are not quite going to get stimulus yet. we are certainly going to get stimulus in the next few months. we think stocks can correct 10 months. we may put in a major top in
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mid-august probably later this week. >> you are talking about ec head and qe2 and the fed stepping up again to buy notes and bonds to keep rates in place if not lower. but do you get a sense though that this 3,000 thing on the dow which would be 10,000 points lower than where we are now is a little extreme? >> we have already seen 6400, and that crash, that melt down would stop by trillions of dollars of stimulus in the u.s., and then in europe. it is not that extreme. every 40 years, neil, we show we get major tops in stocks when generations peak in spending. 1929, 1968 and now 2007. it was 1989 -- >> when will it be a success? >> you are likely to see between 3,000 and 6,000 bay late 2014 and 2015. but the truth is, neil, we will see sideways volatile tee for the next decade. investors have to buy when things are low. and at times like this,
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13,000, 14,000 on the dow you have to start pulling out because the downside becomes more dominant. >> all right on that optimist stick outlook we appreciate it. everyone, enjoy the rest of your summer. meanwhile, before it was the rage, paul ryan was about the numbers, just the numbers. mr. budget who was all over our budget, what we were spending. and the many, meantimes we chatted, what we can do to control that spending. he was the guy who stood out for gladly president whatting to take these problems on. you would think we would have given him a medal for trying. how he dealt with even republicans for bolting.
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and lock in your rate for 12 months. liberty mutual insurance. responsibility. what's your policy? ♪ ♪ >> neil: well, we all know the line, "if you can't stand the heat, get out of the kitchen." i ought thought it was a stupid line myself. i would take more than a little heat to get me out of any kitchen. i digress. back to a thin and fit paul ryan more than happy to take
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on the heat in the kitchen. that doesn't mean you have to love this guy. but i think republicans and democrats could welcome the fix from any of the guy at least those willing to sweat and try. say what you will, trying to reign in entitlements, whether he goes too far, he is really not going far enough. he is curbing at best the growth in entitlement. yet his critics say it's going too far. look at it this way. if ryan throwing granny off the cliff to try to prevent the stuff she depends on going over a cliff why should he even try? is that the thanks you get for trying to do the right thing, why not continue rewarding politicians for consistently doing the wrong things? it shows the gutlessness in washington. a point i raised with ryan, himself, recently when i was in washington. it's one thing for democrats to refute. but refute republicans to stand by you? >> he has chosen to do nothing
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unleading a allowed the political leaders to demagogue agreement on this to make it harder for us to get agreement to fix the problem. >> neil: even republicans they kind of left you -- >> not at all. no, not at all. >> donald trump was on our air this year. he was trashing you. trashing the plan. >> no, it doesn't bother me. when you lead and step out to put reforms out there you will get these comments. >> neil: you know, it's way too early. way too early to say whether ryan is going to be a liability preaching the truth but i'll tell you what. it would be a damn shame if we saw the republican -- silence republican or democratic voices alike for just trying to show us the way. we're going to be getting into this more on fox business network tonight. some say the ryan plan doesn't go far enough. forget the nonsense of curtailing the growth in entitlement spending, how about reversing that spending. so you think that guy

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